Zotye New Energy was ruled bankrupt and liquidated by Yongkang Court due to insolvency.

A few days ago, it was learned from the official announcement of *ST Zotye that Zotye New Energy Automobile Co., Ltd. (hereinafter referred to as "Zotye Automobile"), a wholly-owned secondary subsidiary of Zotye Automobile Co., Ltd., was applied for bankruptcy liquidation by creditors on the grounds that it could not pay off its due creditor's rights and its assets were insufficient to pay off all its debts.

According to the announcement, Zotye Automobile recently received a civil ruling from Yongkang Court, and the applicants Hangzhou Tiecheng Information Technology Co., Ltd. and Jin Hu (China) Tire Sales Co., Ltd. applied for bankruptcy liquidation of Zotye New Energy on the grounds that Zotye New Energy could not pay off its due creditor's rights and its assets were insufficient to pay off all its debts.

In addition, Zotye Automobile stated in the announcement that Zotye New Energy is a wholly-owned secondary subsidiary of the company. After entering the bankruptcy liquidation procedure, if Zotye New Energy is subsequently transferred to the reorganization procedure due to legal circumstances, and the company, as a reorganization investor, promotes the reorganization of Zotye New Energy, Zotye New Energy will become an important profit source for the company and will play an important role in the company's sustainable operation and development.

However, if Zotye New Energy is not transferred to the reorganization procedure, and is finally declared bankrupt by the court, or transferred to the reorganization procedure, the company will lose control of Zotye New Energy as a reorganization investor, and Zotye New Energy will no longer be included in the scope of the company's consolidated statements.

Zotye New Energy E200 Production Line

Zotye Automobile holds 65,438+000% shares of Zotye New Energy. In fact, Zotye New Energy was able to achieve a market performance of about 4,000 units per month before 2065,438+09, which provided a relatively good sales boost for Zotye Automobile and delayed the decline of Zotye Automobile to some extent.

In addition, Hangzhou Jieneng Power Co., Ltd., Hangzhou Yiwei Automobile Industry Co., Ltd. and Zhejiang Zhongtai Automobile Sales Co., Ltd., wholly-owned third-tier subsidiaries of Zotye Automobile, were all ruled bankrupt and liquidated by Yongkang court.

/kloc-0 June/kloc-0 June, zotye motor received Zhejiang Yongkang rural commercial bank co., ltd (hereinafter referred to as "Zhejiang Yongkang rural commercial bank" or "the applicant")? Jinhua Intermediate People's Court applied for company reorganization. This also means that Zotye will start the road of restructuring. However, so far, Zotye Auto has not undergone a heavy restructuring.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.